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Journal entry worksheet A buyer uses a perpetual inventory system, and on December 7, it contacts its supplier to report that some of the merchandise

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Journal entry worksheet A buyer uses a perpetual inventory system, and on December 7, it contacts its supplier to report that some of the merchandise purchased on December 5 was defective. The seller offered to reduce the merchandise price by $400. The buyer agreed to keep the defective merchandise under those terms. Note: Enter debits before credits. Journal entry worksheet A buyer uses a perpetual inventory system, and on December 7, it contacts its supplier to report that some of the merchandise purchased on December 5 was defective. The seller offered to reduce the merchandise price by $400. The buyer agreed to keep the defective merchandise under those terms. Note: Enter debits before credits

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